Point Park University today unveiled a $210 million campus master plan that creates an "Academic Village," including a new Pittsburgh Playhouse in Downtown to replace its aging Oakland facility.

"This project adds significantly to the transformation that is taking place in Downtown Pittsburgh," said Point Park President Paul Hennigan at a presentation today.

The six-year strategic plan has two major elements: One is a student center on the Boulevard of the Allies and Wood Street corridor improvements; the other is the new Pittsburgh Playhouse development on Forbes Avenue.

The university already has acquired or is in the final stages of acquiring -- through purchase or lease -- all of the property needed for development.

The new student center will be at the current YMCA on the Boulevard of the Allies. A new gymnasium -- including a 1,000-seat indoor basketball and volleyball arena -- will be built on a vacant lot next to the Y.

A new park will be built on a current surface parking lot at the corner of Wood Street and the Boulevard of the Allies. Between the park and the Y, two buildings will be renovated for new student housing.

The new Pittsburgh Playhouse and related space will move to Forbes Avenue, in the block bounded by Wood and Smithfield streets. Some of it will be built on two existing surface parking lots; some other existing buildings will be used as well. There will be a 500-seat proscenium theater, 250-seat thrust theater, a 150-seat studio theater, production and teaching areas, a residence hall and below-grade parking.

Point Park officials figure the university will have to raise about $103 million. In addition, it is contributing about $73 million through land acquisition and student housing costs, much of that through debt. It also is budgeting $34 million for a public-private partnership for the parking facility at the new theater complex.

More details in tomorrow's Pittsburgh Post-Gazette.